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SEC Suspends Trading On 15 Companies Due To “Questionable Trading And Social Media Activity”
Today’s order states that trading is being suspended because of “questions about recent increased activity and volatility in the trading of these issuers, as well as the influence of certain social media accounts on that trading activity.”
In enforcing the suspension, the SEC referred to federal securities laws, which states…
“The SEC can suspend trading in a stock for 10 days and generally prohibit a broker-dealer from soliciting investors to buy or sell the stock again until certain reporting requirements are met.”
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